Gold Mines in Uganda
Uganda Gold Mines
Gold mining in Uganda
Uganda Gold Mines; Gold mining in Uganda has gained popularity due to its vast mineral resources, particularly in areas with limited economic diversity. For individuals with limited options, mining can provide an opportunity. Uganda is one such place with abundant gold deposits that have sustained and improved many lives, although not without conflict. Let’s explore the gold mining sector in Uganda.
Over the years, the gold mining industry in Uganda has grown, with gold sales accounting for 30% of the country’s export revenue. In 2016, gold exports from Uganda amounted to $514 million, representing a 50-fold increase over a decade. The country has numerous investment opportunities in gold mining, as it has various gold deposits in different locations. Gold mining activities are primarily concentrated in regions such as Kigezi, Kampala, Karamoja, Mubende, Busia, and Buhweju. Buy Gold Bars from Uganda.
Gold Mines in Uganda
There are Several major gold mines, such as Busia and Mubende in Uganda. Busia, located in the eastern part of the country, is one of the largest Uganda gold mines, producing approximately 2.3 tonnes of gold each year. Mubende in the central region, is also a significant gold producer, with an estimated yearly output of 1.6 tons. These Uganda gold mines generate employment for thousands of Ugandans and make a substantial contribution to the country's economy.
Gold mining in Uganda dates back thousands of years, with indigenous miners undertaking it on a small scale along river basins. In recent history, the region’s gold deposits attracted Spanish and Portuguese slave traders, further increasing interest in gold mining.
Major Gold Deposits Discovered in Uganda
Uganda has recently garnered attention for its rich mineral resources, particularly gold. The discovery of substantial gold deposits has the potential to transform the nation’s economy and attract significant investment in the mining sector.
In June 2017, the government of Uganda announced that it had discovered gold deposits worth 31 million metric tons of gold ore in the Karamoja region. This was a game changer to Uganda, which has been working so hard, borrowing funds to diversify its economy.
The Karamoja region, located in the northeastern regions of Uganda occupies an area of 27,52 Kilometers, is a remote region is home to seven districts: Abim, Amudat, Kaabong, Kotido, Moroto, Nakapiripirit, and Napak. The region is known for its mineral resources, which also include marble and limestone. Gold in the Karamoja region was discovered in the Moroto, Amudat, and Nakapiripiti districts.
Gold extraction is taking place in these regions and is handled by a licensed firm, a Chinese mining firm called Wagagai.
This discovery is expected to make Uganda one of the leading gold producers on the globe.
Other significant gold deposits in Uganda are found in five districts thats Busia, Mubende, Kibale, and Masaka.
Mubende is one of the notable gold-producing regions in Uganda with both small and large-scale, industrial mining activities.
These areas have attracted interest from both local and foreign potential gold investors due to their rich gold deposits.
Many regions in Uganda produce fine gold from river gravels. However, the instability of the region due to various factors, until recently, slowed development. President Yoweri Museveni’s rise to power in 1986 led to political stability, and international mining companies began expressing interest in obtaining gold exploration licenses. This was favorable for large mining firms, but less positive for small-scale miners.
Although Uganda has recorded increased productivity in the mining industry, there are still many places yet to be explored and commissioned for commercial gold mining. Most of them are still being mined using traditional methods. For more information on gold mining in Uganda, contact us today!